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The following data are available for Sellco for the fiscal year ended on January 31, 2020: Sales 810 units Beginning inventory 230 units @ $

The following data are available for Sellco for the fiscal year ended on January 31, 2020: Sales 810 units Beginning inventory 230 units @ $ 4 Purchases, in chronological order 310 units @ $ 4 410 units @ $ 6 200 units @ $ 7 Required: a. Calculate cost of goods sold and ending inventory under the cost flow assumptions, FIFO, LIFO and Weighted average (using a periodic inventory system): (Round unit cost to 2 decimal places.)

Assume that net income using the weighted-average cost flow assumption is $12,500. Calculate net income under FIFO and LIFO. (Round unit cost to 2 decimal places.)

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